Business struggle, kebab eatery declares bankruptcy.

In a recent development, the kebab restaurant Oliva, located in the Linz shopping center Lentia, has filed for insolvency. This news comes from the Regional Court of Linz, where the filing was made on Thursday.

Oliva Adrias GmbH, the company operating the restaurant, has debts totalling approximately 108,000 euros. The insolvency filing affects around 10 creditors and 4 employees, as reported.

The insolvency administrator appointed by KSV1870 to review the situation is Mag. Robert Heinz. Alexander Meinschad from KSV1870 serves as the insolvency court-appointed administrator.

Staff shortages and intensified competition are cited as reasons for the bankruptcy of Oliva in Lentia. The intensified competition is attributed to the announcement of a new "Linzer Döner" branch nearby.

It's important to note that the insolvency filing does not affect the similarly named Oliva branch in the Pluscity. The two Oliva branches are legally separate companies with no economic connection.

The assets (property) of the restaurant in Lentia and the location of the restaurant remain uncertain at this time.

To avoid final closure, a restructuring concept must be presented. If a going-concern prognosis is negative, the company will be closed and liquidated with the aim of doing so in the best possible way, as stated.

Meinschad represents the creditors of Oliva Adrias GmbH in this process. The insolvency administrator will work towards finding a solution that benefits all parties involved.

This news serves as a reminder of the challenges faced by businesses in the food industry, especially in the current economic climate. We will continue to follow this story and provide updates as more information becomes available.